Jupiter has reported net inflows of almost £550m in Q1 as new investment trust business and continued retail flows bolstered AUM.
The group saw £465m in net mutual fund inflows in the first quarter, with an additional £159m of investment trust flows more than offsetting an £86m net outflow from its segregated mandates.
Trust flows were propped up by the company's move to take over management of the F&C US Smaller Companies IT, while the group's Strategic Bond and UK equity funds drove mutual fund flows.
As Investment Week revealed yesterday, the group has separately hired former Kames distribution head Martin Harris to drive the expansion of its institutional business this year.
Total AUM rose from £31.7bn to £32.2bn over the first quarter, though £2.8bn of this amount is within the private client business, which Jupiter has agreed to sell to Rathbones.
Jupiter delivered a further £500m of net inflows in the first quarter as we continue to expand our distribution network and product set," said new CEO Maarten Slendebroek.
"These flows came predominantly from our mutual fund franchise, which will continue to be the main driver of growth going forward following the recently announced disposal of our private client operations."
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019